Bidding for Nortel Networks’ wireless assets is expected to be intense Friday when hopeful buyers meet in New York City at the offices of the insolvent tech giant’s lawyers.
Swedish telecom giant Ericsson confirmed Thursday that it has officially submitted a bid.
The lowest bid is a preliminary $650 million US from Nokia Siemens — announced by Nortel in June as a “stalking horse” offer to draw out higher bids.
A third confirmed bidder is New York-based MatlinPatterson, which offered $725 million US.
Absent Friday will be Research In Motion, which has tried unsuccessfully to convince Nortel to skirt the court-approved procedures and unlock the bidding process.
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